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The dollar could weaken further later in the day, particularly against the risk-sensitive euro, which is also benefiting from stronger share markets, dealers said.
During morning trade in Tokyo, the People's Bank of China-affiliated Financial News reported that China should shift more foreign reserves away from the dollar and into the euro and yen.
Originally posted by crisko
And if China dumps the dollar, who is going to buy all there junk?
Originally posted by itsblownbackbaby
Not to mention that as unemployment increases and inflation/dollar devaluation increases, we will not be able to purchase enough Chinese toys to keep them at bay. This holiday is going to be dismal, and the Chinese expect Dora to roll off the shelf here.
The stimulus', the cash for clunkers, low interest rates and the constant false optimism (its a jobless recovery woohoo! recession o-v-e-r) is all for one purpose = Keep Americans spending so this doesn't crumble like a house of cards.
Course, they're just delaying the inevitable, you cant squeeze blood out of a turnip.
(and just in case youre wondering, I lump the Cash for Clunks in there because that was the whole idea. Turn in your beast and put a down payment on a new car you cant afford. )
[edit on 27-10-2009 by itsblownbackbaby]